WASHINGTON: The United States unveiled sanctions on dozens of Russian banks Thursday — including the largest remaining one yet to face such action — over the war in Ukraine.
The move taking aim at financial institutions and officials “will further diminish and degrade Russia’s war machine,” Treasury Secretary Janet Yellen said in a statement. “This sweeping action will make it harder for the Kremlin to evade US sanctions and fund and equip its military,” she added.
The latest sanctions hit Gazprombank, Russia’s largest remaining bank not previously blocked by the United States, and more than 50 internationally connected Russian banks, said the Treasury Department.
The effort also covers more than 40 Russian securities registrars and 15 Russian finance officials, the department added.
It was not immediately clear if the new wave of sanctions was linked to a recent escalation of tensions. Ukraine on Thursday accused Russia of launching a non-nuclear intercontinental ballistic missile attack.
The US Treasury called Gazprombank, the financial arm of Russian energy giant Gazprom, “a conduit for Russia to purchase military materiel for its war effort against Ukraine.”
It charged that the Russian government uses Gazprombank to pay soldiers, including for combat bonuses. Gazprombank has been punished with sanctions by others including Australia, Canada, New Zealand, and the United Kingdom.
In a separate statement, National Security Advisor Jake Sullivan said: “Today’s sanctions will further curtail Russia’s abuse of the international financial system to help finance its war against Ukraine.”
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